winners but overall there is so much regulatory pressure on the big could take companies like facebook amazon or google just to name a few and go through this pressure is not going to vanish anytime soon let's go to new york thank you. and some of the other global business stories making news. alternative meat producer beyond meat will partner with fast food chain k.f.c. to develop a plant based chicken alternative the 1st a vegan nuggets and boneless wings will appear on menus in the united states is the latest win for beyond meat an investor darling already working with chains like corals and subway. british airways pilots announced friday they'll strike for 3 days of temper in a dispute over pay the strikes on september 9th 10th and 27th could affect tens of thousands of travelers the airline called the move unjustifiable and said it will refund and rebook passengers affect. confidence among german business executives has sunk to a near 7 year low as survey of germany's institute for economic research shows fears of a recession are growing as the german economy contracted during the 2nd qu

laura: it is google, facebook, amazon. also, smaller companies that are operating over there.t really we will be looking for going forward is this global agreement they are working on affects digital companies. digital companies will be taxed. it affects pharma, manufacturing. a global trend of that multinational corporations -- there is a consensus that for too long, they have been able to operate in tax havens. countries are banding together and saying these corporate profits are taxed somewhere in the world. taylor: i wonder how much of a surprise this was. we knew the digital tax had gone into effect. we weren't quite sure maybe, there was quite a ton of lobbying. how much of a surprise was the news today? laura: it was a little bit of surprise. last, tensions ramped up to an all-time high. trump talked about the tariffs on french wine. a hearing in washington with rep resented of talk about this. trump set i will talk about this soon. there was an exit dictation he might announced tariffs or other retaliatory action. we saw things cool off a little bit. the lower-level fo

china in the other and of course we know the american corporations very well in terms of kugel facebook amazon maybe we don't know the chinese corporations very well because their reach is just beginning to expand. beyond china so far trying out has been kind of like an internal colony but we are starting to see how these corporations. the infrastructure developed in trying out is starting to expand into different parts of the world including asia and africa. but china's biggest private company while way technology has africa has been a coal miner so it's countries like south africa nigeria kenya which is where now have delivered some of the biggest most rapidly growing telecom. has studied the wild way of hearing. their building products for example better suited to the african market the cheapest mobile phone that you can get in various african markets it's a chinese phone so you will not go almost like you looked on one to both of the site and they are building relationships with governments they are providing infrastructure so while we has provided a lot of infrastructure for. surveillance

so all this information that we're ending over to companies like google or apple facebook amazon it's all being reduced to bits and the question is how comfortable are we sharing that information heath obviously has no problem with it and i think most people frankly shouldn't have a problem with letting siri know that they want to know what the weather is or that they want to play their playlist i think where you run into the margins which is what sam alluded to is what if there is really sensitive stuff in these conversations and we're assuming that these systems are listening when in fact they are and some of your probably had some scary instances where for example maybe you were googling something about a medical condition and then ads might show up in your g. mail which is a little to the fact that they know that you're doing this well the same thing as a play and for systems as well let's just explain very simply how one of things 1st come on systems actually so let's look at the amazon. really easy to understand how it. in order to a voice recognition artificial intelligence you

nest egg and want capital appreciation netflix and the rest of its fast-growing fang cohorts, facebook, amazon, netflix and google look more attractive given that mind set. in short, before you can start making judgments about individual stocks, you need to know what it looks like internally that's the foundation knowing what you need to find stocks that are suitable to your particular needs let me put it another way. if you want to fly across the pacific ocean, do it in a boeing 747. don't try to fly across the pacific in a ford fiesta if you want to pick up your kids from school in a 747 would be impractical. how about if you're renovating your house so you need to go to home depot for a metric ton of lumber and power tools the ford fiesta is too small no way you'll put it in a 747 packed home depot parking lot but a pickup truck would be perfect. this may sound simple but the same way with stocks when you're saving for retirement, you want low-risk holdings for those of you that don't have time to research individual stocks, you can't really go wrong with the basic low-cost s&p 500 index fu

machine standpoint so all this information that we're ending over to companies like google or apple facebook amazon it's all being reduced to bits and the question is how comfortable are we sharing that information heath obviously has no problem with it and i think most people frankly shouldn't have a problem with letting siri know that they want to know what the weather is or that they want to play their playlist i think where you run into the margins which is what sam alluded to is what if there is really sensitive stuff in these conversations and we're assuming that these systems are listening when in fact they are and some of your probably had some scary instances where for example maybe you were googling something about a medical condition and then ads might show up in your g. mail which is a little to the fact that they know that you're doing this well the same thing as a play and for systems as well let's just explain very simply how one of things 1st come on systems actually so let's look at the amazon. really easy to understand how it. in order to a voice recognition artificial intelligenc

i field a few calls from people who don't think fang is a diversified strategy facebook, amazon, netflix and google i call faux diversification. no matter how much i might like the oil stocks, i can't have a portfolio made up of exxon/mobil and halliburton. i'm an equal opportunity just like her they just leave you way too exposed to health care risk that could overwhelm the whole group all at once. it is not just an amateur mistake. -- that sector takes off. you'd beat pretty much everybody diversified out there. that's the nature of the beast a hedge fund manager that does that is lucky, can then market himself as a huge success, in every magazine, unsuspecting investors don't realize how much risk they're taking on here's the bottom line whether you're an amateur or professional, you always need to do your homework and be diversified. may not be exciting or sexy. this is routine maintenance that protects you from monster losses down the line. >>> mike in south carolina, mike >> caller: hey, jim, it's mike from south carolina. >> thank you for calling >> caller: i'm wondering, i'm a ne

trish: 0 states are getting ready to launch investigations into google, facebook and amazon.lies, and they are hurting each and every one of us to make a buck. maybe americans would like to keep a little bit more of what they earn. president trump says the country may soon see another tax cut. president trump: i would love to do something on capital gains. payroll tax is something we think about and a lot of people would like to see

think of some of the biggest companies in the world today there's google amazon microsoft facebook we chat all of them big tech with algorithms at that one more than just uses or customers will these businesses would generate is a dot of they need us to like them for them to be indispensable because the more that we use them the more data we produce where in the midst of a great race the dot and big tech companies are on the chase. for the past 3 years academics nichol dri analysts have been investigating a phenomenon they call data colonialism. while the modes scales and context may have changed they say colonialism same underlying functions of empire building extraction and appropriation remain the new lang grab going on there's not land that's being grabbed it's us it's human life the acquisition of the construction of data valuable data for corporate use out of the flow of our lives that's the lag right going on and that's why the work is the only way does justice to that let's think for instance of all the and use her license agreements or the terms of use that we read whenever w

i mean companies like amazon google you know facebook you know they they do take these into consideration you know they're working on it but we need more stringent you know safeguards and so you know they may not be looking at the whole economy and as you know selling their data to somebody else we don't know what that 3rd party is doing with our data so they may tell us and say ok we gave it to company y. but what is whose company why sure i'm not with them and so there's all these degrees of separation that we don't really know about and all of those really need to be looked into and explored more and this is where i think it comes back to the military for each individual because you know a company that i do think that all the companies take pains to at least make their devices not seem creepy but that's because they want to sell more devices that you know even if they mean well or that you know they don't mean anyone ill their ultimate goal is just to sell the devices so i think it comes back to what an individual is getting out of it and not just trying to sort of have something that'

you can have good companies, facebook, amazon, netflix, great companies.eir prices are too high. we like the diamondback price today. liz: we know what you're selling. we know you like some energy. do you feel the economy is going in the right direction? when i say direction, think about momentum itself. the president says it is. all of is had people say it is. yet he is ready to throw everything at it. he has been talking to business people all last week. makes you wonder if some type of contingency plan is talked about? >> shakespeare said it best. clearly trade wars are a problem. all indicators say we're very close to recession. we may already be in a recession. back in 2001, it took four quarters of denying it before they went back, said, we were in a recession the end of 2001. liz: so good to see you. mark, one of our favorites here at "countdown." [closing bell rings] we look to be at session lows. the dow down 180 points. s&p lower by 23. nasdaq down 53. as president talks about mulling stimulus. melissa: we may already be in a recession? what was

tonight. 2080s are teaming up for an investigation into the world's largest tech firms, goggle, facebook and amazon. facebook in particular is under fire for violating users' policy. it's paying companies to transcribe its users' audio chat and perhaps more that we don't know about. all in the name of profit. the company is rolling out a new policy allowing people to separate their browsing history from their profile. this is a problem because they are taking our data, our lives, and they are selling those lives to the highest bidder. and it's a problem on the national security level because we have evidence that russia and the chinese, the chinese are trying to manipulate us online. joining us, pete hegseth. pete, good to see you. i think it' really important that we be looking at this. i am happy the administration is willing to take it on. and launched an investigation. now, you get the states launching an investigation. are these companies monopolies? >> yes. if any administration is going to take this on it will be the trump administration. look how they stared down china. these big tech is to

laura: france passed a digital tax that would hit google, amazon, facebook. on revenues in france, and the u.s. said this is not fair. you are going after american companies. there were other tech companies affected, but mostly american companies. the u.s. trade representative opened up an investigation and trump has threatened to put tariffs on french wine. today at the g7, we saw them come to an agreement. france said they were going to negotiate these global negotiations going on. there are 130 countries looking at reallocating taxing rights, which country has the right to tax which profits. france says, when there is a global deal reached, they will take away their tax and basically reimburse all the companies who have paid it. they have not agreed right now ,o repeal the tax entirely but they have an agreement in principle to add a feature date repeal the taxes. emily: which companies benefit the most? laura: google, facebook, amazon. also, smaller companies operating over there. the thing we will be looking for going forward is this global agreement the

people who have one raises through city and state action and then scores of nonunion employers, facebook, amazon, target, have all gone to $15 per hour. when people have more money in their pockets, they spend it in their communities and small businesses grow. university of washington study that screams the same fear tactic about small businesses declining actually reversed itself for years later in the adult and said the data they were looking at was wrong and that small businesses actually grow. frankly, it is sort of comments that to working people in this country. when we have more money in our pockets, there has been economic growth in cities and states. there are 64 million people in this nation that earn less than $15 per hour. you cannot make it on $7.29 an hour as the fast food workers in detroit earn. that is what we think the trump argument is baloney. we also need to make the demand for unions in this economy and democracy because unions are a way to make these raises stick. unions are a way to change every aspect of our lives. that is why we are doubling down on the demand for union

facebook. but, for amazon, its selling platform, they are also selling their own goods. there are all these different ways to look at it, but google will definitely have to deal with the bias problem as a separate issue. >> maria: it has been so much more significant in terms of its oversight and domestic as opposed to the u.s. they go they really look at privacy as a human right. , as apple likes to say, although they have come into some issues. they have really led the way. the u.s. really needs to catch up. >> maria: yeah, we'll see if the u.s. ends up getting close to where europe is. that would be significant to these companies. >> that would be a huge deal. but it's going to take a very long time. what that's going to look like is are still up in the air. >> maria: love avenue. keep on digging. family recipe. can i see it? no. philadelphia dips. so good, you'll take all the credit. depend® fit-flex underwear for all day fun... features maximum absorbency, ultra soft fabric and new beautiful designs for your best comfort and protection guaranteed. life's better when

tech companies, apple, amazon, facebook and google and others need to make the first payment to the frenchby november. it's not as simple as writing a check. a lot of the system they need in place to figure out how much tax they owe to the french government doesn't exist and amazon says a lot of the data they need to figure it out also doesn't exist. cheryl: facebook and twitter are accusing china of engaging in a misinformation campaign on social media about the hong kong protests. both companies say they removed numerous accounts that were used to sew political discord in hong kong. twitter removed more than 900 cowchts, suspended -- 900 accounts, suspended 20,000 mosser. lauren: carrie lamb says she's now willing to talk to the protesters. she said there were no plans to revive the controversial extradition bill that sparked the protests more than 11 weeks ago. >> we will start immediately a chance for dialogue with people with all walks of life. lauren: residents there and businesses are reportedly taking their money out of hong kong. the wall street journal reports that a huge swath o

matter a lot to you which we have been asking all along but 1st serve vaillant's capitalism what facebook amazon and google know about us how they're selling their information and how you can slam the brakes on a holiday cook in washington this is the big picture on our t.v. america. too often when we use a web app or join a social media site we just check the box for accept rather than reading a long page of fine print terms of use but if you read facebook's privacy policy might feel like you have none among other things you permission facebook to gather are the people pages accounts hashtags and groups you are connected to and how you interact with them types of content you view or engage with features you use actions you take people you interact with and if you have purchased anything or made a donation through facebook they capture your payment information your credit or debit card number billing and shipping details anyone creeped out yet why are tech companies building a dust ca on you and how can you opt out let's ask investigative journalist an r t contributor ben swan and ben our last g

check out the fang drain facebook, amazon, netflix and alphabet all down sharply.mazon seeing its longest losing streak in nearly four years, but the chart master says it may be ready for a bounce we will head over to the plasma and break it down for us >> you bet >> all right. >> amazon had a lot of air let out of it. think about microsoft, barely down, or visa or any of the high-flying super cap growth names. amazon was pounded, down 11% to put it in per expect, s&p, nasdaq, semi and amazon. not to say it has to be related to any of these, the point is that it was a center of selling. this is a peak-to-trough decline over the last six to eight sessions depending where you start your meter the point is at this point i think you have bounce potential, not just because it is down 11% but because the chart level would suggest that here is your lull in december. here is your june low and here is the sell-off. they happen to be not randomly right off of a line. you know, you kind of can't make this stuff up. the point is that does it have to go on making new highs? no

facebook, amazon, netflix and alphabet all down sharply,losing streak in nearly four years, but the chartmasterays it may be ready for a bounce want to head over to the plaza and break it down? >> you bet amazon has had a lot of air let out of it. think of microsoft, barely down, or visa, or any of these high-flying supercap indio sin democratic growth names. amazon really did get pounded, down 11% s&p, nasdaq, semis and then amazon not to say that it has to be related to any of these. the point is that it was the center of selling. this is the peak-to-trough decline over the last six to eight sessions, depending on where you start your meter but at this point, i think you have bounce potential, not just because it's down 11%, but because the chart level would suggest that so, here is your low in december here is your june low and here is the sell-off. well, they happen to be -- not randomly -- right off of the line i mean, you know, you kind of can't make this stuff up so, the point is, is that, does it have to go on making new highs? no, but do you press it short here or do you play for some

a serious problem with companies like amazon there is a serious problem with companies like facebook. amazon's biggest miracle is brings 3rd party sellers on to their platform if there's any data online and if it's profitable nuff they call them out of the market that's illegal it's been illegal for 100 years they've been documented to be doing it and on top of that the cross subsidisation of businesses between their cloud services and their physical goods as illegal too but nobody goes to jail today where elizabeth warren could score big points is if she went to that 8020 year shoe and went after the medical monopolies because that ists reach trillion dollars a year to get ripped off a lot of american pocketbooks that is the warmest a lot of money we're talking about somewhere on the order of $10000.00 per citizen in the united states today that you keep that would make a huge difference and if she could actually be coherent about it which i'm not convinced she could is one of frankly i think could go to the white house wow actually and find car i think that going to be the most talked about

people who have one raises through city and state action and then scores of nonunion employers, facebook, amazontarget, have all gone to $15 per hour. when people have more money in their pockets, they spend it in their communities and small businesses grow. university of washington study that screams the same fear tactic about small businesses declining actually reversed itself for years later in the adult and said the data they were looking at was wrong and that small businesses actually grow. frankly, it is sort of comments that to working people in this country. when we have more money in our pockets, there has been economic growth in cities and states. there are 64 million people in this nation that earn less than $15 per hour. you cannot make it on $7.29 an hour as the fast food workers in detroit earn. that is what we think the trump argument is baloney. we also need to make the demand for unions in this economy and democracy because unions are a way to make these raises stick. unions are a way to change every aspect of our lives. that is why we are doubling down on the demand for unions.

juice, i think of fang, facebook, amazon, netflix and google why these? i think facebook is the rapidly growing site where you provide the content and they provide the ads. it's a brilliant company deep bench amazon there is a $4 trillion market for retail goods in the world and amazon has a small fracture. netflix wants so much to dominate entertainment with a management that intuitively recognizes what you want when you want a game changer. why do i like this alpha bit isn't that played out? no, no, o. it dominates the moment you want to buy something so advertisers love it and balance sheet of beauty and a whole hassle of people wanting to avenge something new to plant or compliment serve waymo might be autonomous driving vehicles these are examples about growth. i know it seems commercial to do what i want done here but i think given how poor income growth has been for so many people in this country, it is important to try to augment the other side the savings side there is no time like the present. one other thought i like, you know i believe gold and

take a look at some of the other tech stocks, those most affected by china, facebook, amazon, alphabet, netflix, all the big tech stocks all moving higher. also the chip stocks today as well. >>> take a look at tesla. starting the last week of august, as you can see, up 1%. it lost ground last week. people familiar with the matter say that the elon musk-led car maker will raise prices in china earlier than planned with another possible price increase in december. doesn't hurt the stock. tesla up more than 1%. >>> now to the group of seven. president trump not backing down but standing firm when asked about the impact that his trade strategy with china has had on the international markets. the president earlier defended his handling of trade relations with china during a press conference at the end of the g7 summit, adding that those calling for him to back down in negotiations quote, don't have the guts. that sounds like president trump. fox business's blake burman certainly has the guts. he's standing by at the white house with the very latest. blake, it wasn't just china news that go

most of the world uses products from google apple facebook and amazon or. but not china there are 3 homegrown tech giants dominate the industry they're called by do . and handsome also known as b. 80 in china but i do replace a google. for e-commerce and is more popular than facebook is here but that's not all. my dues map service instead of google maps where instead of twitter and tweet charts instead of what's. in china separate providers for almost every online service available in the west but they're far more than just copies in many fields like live streaming. and online payments chinese providers have become global leader. stockman is a professor at the hattie school of governance in berlin and an expert on china's digital trends she says uses play a big role in these developments main difference between chinese users and european users that chinese internet users a fast adopters so when there is a new platform they were. try it out. we chat alone has more than $1000000000.00 users a month. pain is the leading mobile payment service it works in super

state attorneys general are looking into the unchecked power of large technology companies like facebook, amazonphabet. the justice department's top anti-trust official is sitting down with our own brian sullivan saying he has heard from a number of states on the matter and is prepared to cooperate >> whatever may come, do you feel like you have a good relationship with many of these potentially involved states? would it be a coordinated dove tailed group effort or do you envision that you would have different goals and agendas? >> i don't think we would -- again it remains to be scene ee ian gattis pate it would be in a cooperative matter that benefits everybody involved states and their enforcement objectives as well as the parties, making sure that we are engaged in an investigation without creating undue burdens it has been known, you know, i'll refer you to the sprint t-mobile transaction where some members of the states might go a different direction than some other states and the federal government but that's just part of the challenges when you have 52 enforcement agencies. >> some have

i reached out to major players like facebook, twitter, amazon google. twitter, amazon, google only ones responded but they will not provide comment. the focus of the probe are large firms acting like monopolies and stifling competition? you have the ftc, the doj, congress, now potentially state attorneys general that will all scrutinize their views on big technologies. so he reached out to richard newman. he is an ftc investigation and defense attorney on why the state level is so important. he said, the states getting involved in a, is a natural consequence of the federal probe. it is potentially significant for a number about reasons, including that states are not necessarily bound by the same political constraints as federal agencies. so we have that. the legal perspective. what about eninvestors that are holding technology right now? i reached out to a tech expert, dave maney. he said, and i quote, that in the short term, it means trouble for big technology, lots of public shaming, inflammatory statements from politicians and negative publicity. i l

attorneys general preparing to launch a broad investigation to technology giants, that include facebook, amazone and google, investigation could begin next month and focus on whether the companies use their economic power to stifle competition, it could coincide with the department of justice's on going current antitrust investigation of the same subjects, and perhaps more. >> a audit fines a political diversity problem at facebook, imagine. study written by former republican senator jon kyl found lack of conservative voices among its employees, and its board of directors. facebook did not give senator jon kyl access to the current content policies ora or -- alga algorithms that create a so-called news tab, that feature media outlines paid for by facebook. joining me tonight, author corey lewandowski. the president taking on all comers, and today saying straight forward lely, on chinaf he had not done it no one would have. >> you know, as we look back on this administration in 30-years from now, we'll be looking at what don ha donald trump has doo level the playing field against china, and than

excited to talk about what they are working on it is a pretty secretive industry with google or facebook or amazon even those that have been part of the dedicated piece but it's funny. i do feel going from being a tech worker to writing this history t7 with that 18 months? is that the log is part of your life quick. >> the most intense t7 the website that we all know do you use that i am significantly more paranoid about the companies or the apps that i use if they don't have a revenue model i am more suspicious of it i'm not likely to use it. but asked about my phone number or address i turn off the setting i use those ad blockers that use tracking. i do love it in many ways but i do feel i am more aware of the nefarious use of what could happen for a guy feel very protective of my content. but i'm proud if you google me i have no pictures of my face i've been able to get away with that for 20 years. of always been a little bit paranoid i guess t7 book tv c-span two. c-span2. [inaudi ble conversations]